From there we covered the common persuassaion tactics that scam artists use:

Phantom riches - Dangling the prospect of wealth by enticing investors with something they want but cannot have. “These gas wells are guaranteed to produce $6,800 a month in income."

Source credibility - Trying to build credibility by claiming to be with a reputable firm or to have a special credential or experience. “Believe me, as a senior vice president of XYZ firm, I would never sell an investment that doesn't produce.”

Social consensus - Leading individuals to believe that other savvy investors have already invested. “This is how ___ got his start. I know it's a lot of money, but I'm in—and so is my mom and half her church—and it's worth every dime.”

Reciprocity - Offering to do a small favor in return for a big favor. “I'll give you a break on my commission if you buy now—half off.”

Scarcity - If something is rare or scarce, it must be more valuable.“We have had a run on this stock like you can’t believe – we only have 2,500 shares left out of an initial supply of 300,000.”